reffered to underwriters

barberboy

Hi,

I would much appreciate someone in the know to give me advice please. I am self employed, i have applied for a mortgage through a broker, the bank in question is under the santander umbrella.

When my details were put into the affordability calculator, i could afford the loan but only by a few grand, so when we done the agreement in principle it says it has been reffered to the underwriters who arer supposedly getting back to us today, what can i anticipate to happen here? Do you think they will chop my amount to borrow down?
I know nobody has a crystal ball but you guys collectivley are geniuses so your advice much appreciated!

Thanks a lot

VIGILANT22

You just want someone to tell you everything will be ok....considering all yr details are in front of the underwriter and all we know about you is "barberboy"...the underwriter is in a better position to give you the correct answer.........

grogdog

they will probably agree the case subject to you showing 2 years accounts.

barberboy

VIGILANT22 wrote: »

You just want someone to tell you everything will be ok....considering all yr details are in front of the underwriter and all we know about you is "barberboy"...the underwriter is in a better position to give you the correct answer.........

....obviously....thats why...i asked....someone...that maybe...knows...more...about...the...subject than...me...obviously the underwriter...is in a...better...position...so thanks...for stating...the obvious...

camper_1982

Thats what happened the the one i applied for. was 2 grand less than the amount they said we could borrow, went to underwritters and he/she reduced it by 10 grand.

Next application going through now with another. good luck, hope yours gets through.

VIGILANT22

barberboy wrote: »

....obviously....thats why...i asked....someone...that maybe...knows...more...about...the...subject than...me...obviously the underwriter...is in a...better...position...so thanks...for stating...the obvious...

nobody knows a scooby on here why your app has gone to underwriting, it could be for a multitude of reasons, so nobody can honestly tell you what you want to hear!

barberboy

mortgage approved WOOOOOO!:beer:

JA1000

You git, actually I mean well done, nice to see sometimes underwriters are human, I think you probably caught them with the wind in the right direction. Can I ask a bit more detail about the loan, income, value of house, mortgage? Only because I have been turned down 1.7 times joint income with Abbey with a 30% deposit!!!!

barberboy

JA1000 wrote: »

You git, actually I mean well done, nice to see sometimes underwriters are human, I think you probably caught them with the wind in the right direction. Can I ask a bit more detail about the loan, income, value of house, mortgage? Only because I have been turned down 1.7 times joint income with Abbey with a 30% deposit!!!!

no prob, value £230000, going on a 60% LTV loan and they still reffered me, i am going for a flexi tracker. These people are very tight, i cant believe they reffered me, thought id have been smack bang in the middle if there limited/low risk catagory.

Good luck with your mortgage mate.:beer:

Conrad

JA1000 wrote: »

You git, actually I mean well done, nice to see sometimes underwriters are human, I think you probably caught them with the wind in the right direction. Can I ask a bit more detail about the loan, income, value of house, mortgage? Only because I have been turned down 1.7 times joint income with Abbey with a 30% deposit!!!!

I find abbey particularly troublesome. They tend to be overly tight on affordability. I had a £30k mortgage on a price of £160k declined as they felt her £13k income too low even though her employer (a local council) had confirmed in writing her pay was increasing to £18k within 2 months.

Abbey are staffed by unthinking robots. Sure some cases go through, but thats in spite of thier appauling service. Avoid

grogdog

Conrad wrote: »

I find abbey particularly troublesome. They tend to be overly tight on affordability. I had a £30k mortgage on a price of £160k declined as they felt her £13k income too low even though her employer (a local council) had confirmed in writing her pay was increasing to £18k within 2 months.

Abbey are staffed by unthinking robots. Sure some cases go through, but thats in spite of thier appauling service. Avoid

abbey are awful at the minute, maybe something to do with santander because a&l are similar and are working about a 7-10 day backlog on info sent to them, which just slows everything down drastically.